The U.S. is reducing policy support for electric vehicles, leading to increased costs for consumers and a slowing market. This development contrasts with global trends, especially in China and Europe, which are advancing EV adoption. Automakers that wish to remain competitive internationally must continue to invest in electrification despite any potential easing of EV initiatives in the U.S. Historical reliance on gasoline-powered vehicles will not align with technological advancements in the auto industry.
Now that the U.S. is backing off on tougher fuel economy standards and pulling the EV tax credits, buying or leasing one is due to get more expensive.
Any automaker that wants to compete globally can't back off on electrification. Even if automakers slow down their EV rollouts now, they have no choice but to keep investing.
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